The global LIDAR Market is expected to reach USD 1.44 billion by the end of 2022 with 21 % CAGR during forecast period 2018-2022. Global LIDAR Market, By Type (Terrestrial, Airborne), By Component (Laser, Navigation, Camera, GPS Receiver), By Application (Seismology, Corridor mapping, Exploration), By End-users (Oil & Gas, Transportation, Mining, Tourism) by Forecast 2022
LIDAR Market Share, Size, Trends, Analysis, Growth Top Leaders and Business Opportunity Analysis Report 2018 include historic data, with forecast data to 2022. LIDAR Market report is helpful for future strategy development, and to know about Market Drivers, Restraints, Opportunities, And Global market size, share, Growth, Trends, key players forecast to 2022
LIDAR stands for light detection and ranging which also known as remote sensing. LIDAR does not require electromagnetic radiation, but it requires laser pulses that strike the object back to the sensor. It measures the distance from the sensor to the object by determining the time between the releases to receiving of the reflected pulse.
Data processing technologies over other technologies, automated systems in LIDAR, adoption of aerial LIDAR and emergence of new applications are the factors contributing to the growth of the LIDAR Market. However, less awareness about the benefits of LIDAR systems, use of expensive components in LIDAR systems such as laser scanners, navigation system, high-resolution 3D cameras which collectively increases the cost of LIDAR systems are hampering the growth of the overall market.
The growth in this market can be attributed to the encouragement from the governments, application of LIDAR in engineering projects & large magnitude set and rise in demand for robust security and sensor accuracy
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The key players in the global lidar market include Geokno India Pvt. Ltd. (India), Technology (U.S.), Teledyne Optech Inc. (Canada), Velodyne LiDAR, Inc. (U.S.), YellowScan (France), Riegl Laser Measurement Systems GmbH (Austria) Quantum Spatial (Aerometric, Inc.) (U.S.), Faro Leica Geosystems (Sweden), Beijing Beike Technology Co., Ltd (isurestar) (China), Trimble Inc. (US) and others.
LIDAR Market Segments
According to Market Research Future, market has been segmented into type, application, component, end-users and region.
- GPS Receiver
- GSS Receiver
- Corridor mapping
- Oil & Gas
- Defense and aerospace
Out of these components, GIS accounted for the largest market share majorly due to increasing demand for GIS services in canopy height estimation, forest planning, and harvesting planning applications. They are majorly adopted by the government for the forest management and for planning crops.
Market Research Future Analysis
The global lidar market is expected to grow significantly. The market is highly application basis. GSS segment of LIDAR market globally drives the market. The market is expected to have higher growth rate as compared to the previous years.
North-America accounted for the largest market share, because of the increasing investment by various firms towards ADAS and driverless cars and also provides new opportunities for small, versatile, and low-cost LIDAR systems.
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